Target and Hannover House Set for Direct Video-On-Demand Access
December 30 2009 - 12:30PM
Marketwired
Hannover House, the film and video distribution division of Target
Development Group, Inc. (PINKSHEETS: TDGI) (Other:
www.TargetDevelopmentGroup.com, www.HannoverHouse.com), has entered
into direct access agreements with more than a dozen of the top
U.S.A. based Video-On-Demand providers and retailers, with titles
being offered as soon as February 2010. The new structure will
enable Hannover House to deliver new release movies and catalog
titles on a direct basis through streaming technologies available
over the internet and through cable television providers.
"This is a major, structural development for the company," said
Eric Parkinson, C.E.O. of Hannover House and Target Development
Group, Inc. "We see Video-On-Demand emerging in 2010 as a
significant revenue source for Hannover House and other studios
with large content libraries. Quality and security issues with the
technologies have been resolved, making V.O.D. the easiest way for
consumers to access entertainment. As a rights owner and
distributor, Hannover saves on the manufacturing and freight costs
associated with DVDs and Blu-ray videos, plus benefits from the
faster and more direct payment stream. It's a highly-profitable
method to deliver entertainment and our new structure should
maximize these results," Parkinson concluded.
The Hannover House 2008 release of "Hounddog," starring Dakota
Fanning, was made available for Video-On-Demand through a variety
of cable networks, V.O.D. suppliers and internet retailers. Key
accounts included Time Warner Cable, Comcast, Cox Communications,
DISH Network, AT&T, Verizon, Amazon.com and Netflix. Access to
these accounts was through a third-party agency, which Hannover
felt significantly reduced efficiency, profitability and cash flow
timing. Hannover's new structure provides direct access to V.O.D.
suppliers and is expected to improve placements, revenues and
collections. A complete listing of Hannover House V.O.D. partners
will be released in mid-January.
Hannover House owns or controls the distribution rights to more
than 150 feature film and television properties. Principal offices,
warehousing and production facilities are located in Springdale,
Arkansas, in close proximity to the world headquarters for Wal-Mart
Stores, Inc., the nation's largest retailer for entertainment
products. Other key accounts for Hannover House products include
Amazon.com, Barnes & Noble, Best Buy, Blockbuster, Borders,
Christian Book Outlet, Family Christian Stores, Hastings, Hollywood
Video, Movie Gallery, Netflix and SAMS Clubs.
SAFE HARBOR STATEMENT
This press release may contain certain forward-looking
statements within the meaning of Sections 27A & 21E of the
amended Securities and Exchange Acts of 1933-34, which are intended
to be covered by the safe harbors created thereby. Although the
company believes that the assumptions underlying the
forward-looking statements contained herein are reasonable, there
can be no assurance that these statements included in this press
release will prove accurate.
For more information contact: Richard Prudenti Director of
Marketing & Publicity 479-751-4500 Email: Email Contact
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